Nu Skin Enterprises
November 5, 2026
PROVO, Utah - November 5, 2026
Nu Skin Enterprises reported third-quarter 2026 revenue of $311.0 million on November 5, down 14.6 percent from $364.2 million a year earlier and within the company's prior guidance range, as customer and affiliate counts kept falling and the core beauty and wellness business remained under pressure.
Reported earnings were a loss of $0.02 per share, or $0.10 per share excluding organizational transition costs and other charges, compared with earnings of $0.34 per share in the third quarter of 2025. Adjusted operating margin fell to 3.7 percent from 5.9 percent. Gross margin dropped to 65.0 percent from 70.5 percent, which the company attributed mainly to a higher mix of lower-margin manufacturing revenue from its Rhyz platform; gross margin in the core Nu Skin business was 76.6 percent, down from 77.7 percent.
"Third quarter revenue came in within our guidance range as we continued executing on our strategic priorities amid a challenging operating environment," said Ryan Napierski, president and chief executive officer. "During the quarter, we held our Nu Skin LIVE global convention in Japan, where we were excited to gather with 12,000 of our sales leaders and preview our next anti-aging offerings focused on women's health. We continue to see adoption of our Prysm iO platform, including year-to-date growth in revenue from our flagship LifePak nutritional supplements. Looking ahead, we are focused on driving affiliate and customer engagement through the holiday season and anticipate sequential growth in the fourth quarter."
The company said it ended the quarter with 609,469 customers, down 18 percent; 116,449 paid affiliates, down 10 percent; and 26,995 sales leaders, down 13 percent. Selling expenses were 33.2 percent of revenue, down from 35.8 percent, while general and administrative expenses fell $10.9 million year over year to 30.2 percent of revenue as the company continued to cut its fixed-cost base.
By region, Americas revenue was $53.1 million, down 17.0 percent, or 15.9 percent in constant currency. Southeast Asia/Pacific fell 23.5 percent to $43.0 million. Mainland China declined 10.9 percent to $37.9 million, or 16.1 percent in local currency. Japan fell 13.3 percent to $38.6 million, or 6.5 percent in constant currency. Europe and Africa dropped 26.6 percent to $27.9 million. Hong Kong/Taiwan fell 19.1 percent to $25.7 million, and South Korea fell 30.7 percent to $24.4 million. Total Nu Skin brand revenue was $252.6 million, down 19.2 percent.
Rhyz manufacturing revenue rose 19.3 percent to $56.8 million, partly offsetting the core decline. Nu Skin said it has placed about 41,000 Prysm iO devices globally and completed 4.5 million scans through the end of the third quarter, and that a version 2.0 app update late in August roughly doubled scan-to-purchase conversion to 10 percent.
The company ended September 30 with $164.9 million in cash and cash equivalents and cut total debt to $203.7 million. It paid $2.9 million in dividends in the quarter and did not repurchase shares, leaving $137.3 million under its current authorization. Interest expense fell to $3.5 million from $4.1 million.
For the fourth quarter, Nu Skin projected revenue of $310 million to $340 million, including an expected 1 percent foreign-currency tailwind, and adjusted earnings of $0.11 to $0.21 per share. For the full year, it projected revenue of $1.26 billion to $1.29 billion, down 13 to 15 percent, and adjusted earnings of $0.55 to $0.65 per share. Reported full-year earnings are expected to be a loss of $5.08 to $4.98 per share, reflecting earlier non-cash goodwill impairment and deferred-tax valuation charges. Interim chief financial officer Chelsea Lantz said the company still expects about $5 million of remaining cash organizational transition costs in the fourth quarter tied to its East-West operating model, which are excluded from adjusted guidance.
Nu Skin markets personal care, nutrition, and anti-aging products through an affiliate channel in nearly 50 markets and owns the Rhyz ecosystem of manufacturing and related businesses.